Telegraph OnTheGo

3:45PM GMT 07 Nov 2006

Good afternoon,

For the first time, the International Energy Agency has urged countries to build more nuclear power stations to help combat global warming. The IEA, which was set up following the oil crisis in the mid-1970s to advise its 26 member countries on energy policy, says that unless governments take action, world demand for fossil fuels will rise by more than 50pc, along with carbon emissions, by 2030. The projection comes after the Stern Report last week, which warned of the potential economic impact of global warming, and the Government giving its backing to new nuclear power stations in the summer.

Drug giant AstraZeneca plans to create more than 200 jobs at Cambridge Antibody Technology, doubling the size of the biotechnology business it bought earlier this year. With the additional staff CAT, which was acquired in May with a £702m valuation, will extend its research into new disease areas.

Headline profits at directories publisher Yell were nothing to shout about as they slumped 44pc to £87.2m in the first half following the acquisition of Spain’s TPI. Costs stemming from the £2bn acquisition and a fall in the US dollar were to blame. However, after stripping out exceptionals the group said underlying profits rose 15.6pc to £269.2m.